With so much potential change and churn in the independent convenience market this year, there’s a huge focus on competition. And, when talking about competition, it’s pricing that’s on top of most people’s minds.
Speaking to Nisa retailers just weeks ahead of their vote on whether to sell their shares to the Co-op, the issue of pricing is their biggest concern in saying yes to the deal.
Many retailers have a Co-op in direct competition with their Nisa store. They need assurance that they won’t end up selling exactly the same products at higher prices.
Pricing – in particular, price-marking – is also a big concern surrounding the Booker-Tesco deal.
A rival wholesaler told me last week that the two companies merging could result in Tesco demanding lower-priced PMPs from suppliers, causing disparities between price-marked lines in different convenience stores. “And they’ll get them at a lower cost price so we can’t compete,” they said.
While the industry waits to find out what the future holds for Nisa, Booker and P&H retailers, take a look at what you can do to increase spend aside from low prices and promotions.
In our most recent issue (October 31), we featured 14 retailers offering tips, ideas and advice on a range of categories to inspire Retail Express readers.
For Coventry retailer Joga Uppal, it’s about using Facebook to promote his fireworks, while Harj Dhasee says he will gain sales by offering something different this Christmas.
Price will never stop being important to your success. But consider what else you can do to stand out from the crowd.